Spain to nationalise small bank


Madrid - Spain will nationalise the small bank CEISS, which is set to receive eurozone aid, after it was found to have negative equity of 288 million euros (386 million dollars), restructuring bank FROB said Friday.

Liberbank, Caja 3 and BMN, which are also due to receive aid in a second injection of EU cash into Spanish banks, were found to be in positive equity.

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A Spanish flag flutters in the wind near a statue of Columbus in Madrid. File picture: Andrea Comas

The four are to receive a total of 1.87 billion euros.

The eurozone earlier released nearly 40 billion euros for four bigger, nationalised banks.

One of them, Novagalicia Banco, owns Banco Gallego, which the FROB said had negative equity of 150 million euros. - Sapa-dpa

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